Vice President Kashim Shettima has emphasized the need for Nigeria to view public debt as a tool for economic growth and poverty reduction rather than a financial burden.
Speaking at the inauguration of the Supervisory Board of the Debt Management Office (DMO) at the State House, Abuja, Shettima urged the board members to adopt a strategic approach to debt management.
He highlighted the importance of aligning debt policies with President Bola Ahmed Tinubu’s Renewed Hope Agenda to ensure fiscal discipline, economic stability, and long-term sustainability.
According to a statement from Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Shettima noted that with careful management, public debt could be used to finance critical infrastructure and drive national development.
He stressed the need for better coordination between fiscal and monetary policies to maximize the benefits of borrowing.
The vice president praised Tinubu’s economic reforms and acknowledged the efforts of the Minister of Finance, Wale Edun, and the DMO leadership in managing the country’s sovereign debt.
He also commended Nigeria’s recent success in raising $2.2 billion through a double-tranche Eurobond, noting its oversubscription as a sign of strong investor confidence.
The DMO Board includes key financial and economic leaders, with Edun serving as vice chairman and DMO Director-General Patience Oniha as secretary.
Other members include Attorney-General of the Federation Lateef Fagbemi, Special Adviser on Economic Matters Dr Tope Fasua, Central Bank Governor Olayemi Cardoso, and Accountant-General of the Federation Dr Oluwatoyin Madein.
